Pakistan dropping the hammer on crypto exchanges.

Deadline: Sept 5, 2026. No NOC application = ban.

If you're trading in Pakistan or have exposure to local CEXs, this is your exit warning. Regulatory crackdowns always start with "apply or die" mandates.

Watch for:
- Local exchange token dumps
- Capital flight to offshore platforms
- Potential VPN/P2P volume spike

Not the first time a country tries this. Won't be the last. But liquidity always finds a way.